J. Kelly Kennedy, Attorney/CPA, PLLC

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April 2016 Archives

Developing an effective estate plan

An effective estate plan will ensure that the beneficiaries a party wishes to inherit their assets are the beneficiaries who in fact inherit those assets. This can be a concern regardless of the size of the estate, and estate planning can help provide peace of mind. Without a will or trust, Florida intestacy laws will determine who inherits what, so it is important to prepare estate planning documents which specify who will inherit one's assets.

The role of living wills and powers of attorney in estate plans

A comprehensive estate plan typically has several different elements that work together as part of the whole. One important component of any estate plan is a living will, sometimes referred to as an advance healthcare directive. In Florida, living wills can ensure that an individual's healthcare wishes are followed in the event they become incapacitated and are unable to communicate those wishes or make medical decisions for themselves.

A power of attorney can be an important part of an estate plan

Estate planning in Florida involves more than just figuring out how to distribute one's person's assets at death. Discussing the estate with potential heirs, creating a will and setting up appropriate trusts are all important aspects of the estate planning process. However, so too is planning for the possibility of being incapacitated and unable to manage one's assets and financial affairs. This is where a power of attorney (POA) can become an important component of an estate plan.

The importance of choosing the right executor

A person in the Winter Haven and Lakeland area who is putting together their estate plan must consider many different facts and circumstances. Not only does that person need to figure out exactly how they want to distribute their assets, but they must also ensure that their plan is sound under Florida law. Likewise, one of the most important decisions that the person will need to make is to choose a personal representative who will execute their estate plan when the person dies.